- Mortgages
Shared ownership is a Help to Buy backed scheme that helps people who can’t afford a mortgage on 100% of a property. Shared ownership allows you to buy a share of your home – between 25% and 75% of the home’s value – and pay rent on the remaining share.
If you buy a shared ownership property, you’ll need a shared ownership mortgage for the proportion of the property you buy. You’ll typically need a 5% deposit, rather than the 10% required for most other mortgage deals.
Not all lenders offer shared ownership mortgages, so it’s important you use a broker who knows which lenders offer the best deals.
